Alkane Hits Record Net Profit in Fiscal Q3
Alkane Resources (ALK.TO) hit a record net profit in the fiscal third quarter, with production also hitting a new record, the company reported late on Thursday.Net profit was A$93.0 million, or $6.81 per share, surging from $8.1 million, or $1.34 per share.Revenue was $274.4 million, up from $63.2 million. EBITDA was $161.2 million, up from $28.1 million.The company attributed the increase in revenue to higher production and gold sales following the addition of Costerfield and Bjorkdal to the portfolio, combined with higher realized gold prices.The company produced 45,776 ounces of gold equivalent, up from 17,657 ounces. Alkane said it is on track to meet 2026 guidance.Alkane expects to produce 155,000 - 168,000 ounces of gold equivalent for the full fiscal year 2026.
